by John Schneeberger, Hamilton
Well, it’s election year voters and you know what that means: candidates telling you what you already believe, even if it is untrue. The Republicans will remind you of their favorite untruth, that the Inflation Reduction Act (IRA) gave us all that nasty inflation in 2022 and 23. Even though all that spending finally started to make it into the economy after inflation had dropped to 3% at the end of Biden’s term in office but, you know, “tax and spend, tax and spend, viola inflation!” The congressional budget office and most economists say that the IRA had ZERO impact on inflation. It was caused by the shutting down of manufacturing during COVID. If it was not, inflation wouldn’t have dropped so precipitously after manufacturing resumed. You’d think that the Democrats would explain that to you, but elections are not the time for explanations so they will scream about the price of gas. If voters really wanted the truth, the price of gas is way to low if we were to follow any sane long-term economic or environmental policy. Ask your favorite candidate about this and then watch their aides squirm whilst they change the subject faster than a prairie fire with a tail wind.
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